M&A activity in Australia, which has the largest M&A market in the Asia Pacific ex-Japan region, is set to grow by 20% this year, according to JPMorgan.
Local financial boutique East & Partners estimates that purely domestic M&A deals worth about A$11 billion (US$7.7 billion) are due to be completed in 2004 and expects the market to continue to grow by several billion dollars in 2005.
Paul Dowling, principal banking analyst at East & Partners, says the pipeline consists of deals set to take place as a result of consolidation in utilities, state sector assets, telecoms and the retail sector.
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